ACR Alpine Capital Research LLC Sells 45,141 Shares of Citigroup Inc. $C

ACR Alpine Capital Research LLC decreased its stake in shares of Citigroup Inc. (NYSE:C) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,544,555 shares of the company’s stock after selling 45,141 shares during the period. Citigroup accounts for 6.0% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 6th biggest position. ACR Alpine Capital Research LLC’s holdings in Citigroup were worth $401,988,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in C. Spectrum Financial Alliance Ltd LLC raised its stake in Citigroup by 2.7% in the 1st quarter. Spectrum Financial Alliance Ltd LLC now owns 658,445 shares of the company’s stock valued at $74,674,000 after purchasing an additional 17,422 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Citigroup by 1.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 272,410 shares of the company’s stock worth $30,894,000 after purchasing an additional 3,848 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its stake in shares of Citigroup by 1.6% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 6,091 shares of the company’s stock worth $691,000 after purchasing an additional 95 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Citigroup by 1.8% during the first quarter. Kornitzer Capital Management Inc. KS now owns 65,822 shares of the company’s stock worth $7,465,000 after buying an additional 1,187 shares in the last quarter. Finally, Cedar Mountain Advisors LLC grew its holdings in shares of Citigroup by 138.5% during the first quarter. Cedar Mountain Advisors LLC now owns 291 shares of the company’s stock worth $33,000 after buying an additional 169 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Insider Buying and Selling

In other news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the sale, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.11% of the company’s stock.

Citigroup Trading Up 0.8%

Shares of C stock opened at $140.67 on Friday. The firm has a market cap of $239.92 billion, a P/E ratio of 17.43, a PEG ratio of 0.65 and a beta of 1.11. Citigroup Inc. has a 1-year low of $85.61 and a 1-year high of $147.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day simple moving average is $133.71 and its 200-day simple moving average is $122.85.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period last year, the company earned $1.96 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts forecast that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup announced that its board has initiated a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays upped their price objective on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Oppenheimer cut shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Wells Fargo & Company increased their price target on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group raised their price objective on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.